Anglo Canadian Oil Corp.
TSX VENTURE : ACG

Anglo Canadian Oil Corp.

December 16, 2010 08:00 ET

Anglo Canadian Oil Corp. Provides Operations Update

CALGARY, ALBERTA--(Marketwire - Dec. 16, 2010) - Anglo Canadian Oil Corp. ("Anglo" or the "Corporation") (TSX VENTURE:ACG) has completed the initial evaluation of the vertical Sturgeon Lake S. 5-10 well. After placing 60 tonnes of sand into the Nordegg zone using propane as a carrier fluid, the well produced, over the last four days of swabbing, a stabilized average of 1.5 m3 oil/d (9 bbl oil/d) with water cuts at 61%. The well will be put on pump as soon as possible to evaluate longer term production.

Todd Montgomery, CEO states "The results from this well further Anglo's efforts to bring to commercialization the Nordegg play. Every well we drill, every frac we perform brings us one step closer. It's complex, but we are making great strides."

Anglo will resume its work program on the Shane 7-11 horizontal well to retrieve downhole pressure recorders and resume swabbing. Anglo's current focus of operations in the Nordegg fairway is to gather data necessary for the design of a large area development project in the Nordegg shale. Potential development scenarios include vertical pilot wells coupled with short radius horizontal wellbores completed with hydraulic fracs, and more conventional long radius horizontal wellbores with multi-stage fracs.

In addition, Anglo has purchased at a recent Saskatchewan crown sale 1,452 ha (3,520 acres) of potential Mannville and Bakken oil rights in the Kindersley area. This recent purchase brings Anglo's total land holding in the Kindersley area to approximately 26 sections.

Anglo is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. The Common Shares are listed on the TSX Venture Exchange under the trading symbol "ACG".

CAUTION REGARDING FORWARD LOOKING STATEMENTS

Certain statements contained herein may constitute forward-looking statements Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Except as required by law, the Corporation does not undertake any obligation to publicly update or revise any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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